SMSF trustees more confident in markets
Confidence in the financial markets is on the rise among self-managed superannuation (SMSF) trustees, with only 17 per cent of SMSF trustees extremely worried about the financial markets, compared to 33 per cent one year ago, according to research on SMSF’s by Investment Trends.
A third of SMSF trustees said they would be focusing on buying undervalued assets, while 25 per cent plan to accumulate cash and invest once the markets calmed down. Sixty-four per cent said they were glad they had a SMSF during the last 18 months.
Nearly half of SMSF trustees have waited out the market during the downturn, with 48 per cent of trustees reporting paper losses, while 32 per cent of SMSFs selling assets at a loss over the last year.
The number of trustees using an investment consultant or financial planner for investment advice has stayed largely steady during the downturn, with 52 per cent receiving outside financial investment advice, compared to 55 per cent in 2008.
AMP Capital’s head of retail distribution, Ben Harrop, said it was encouraging that sentiment among trustees was returning to more positive territory.
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